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Research firm questions GE's Predix platform (GE)

Published by Business Insider on Thu, 14 Jul 2016

This story was delivered to BI Intelligence IoT Briefing subscribers. To learn more and subscribe, please click here.GE is betting that it can transform itself into a major software provider by offering software tools and applications for connected industrial machines like turbines and jet engines.The company said that it made $5 billion in software revenues in 2015, and is targeting $15 billion in software revenues in 2020.The chief engine driving this planned growth is supposed to be the companys Predix IoT software platform that collects and analyzes data from industrial machines. GE has repeatedly talked up the platforms potential to become the go-to backend solution for industrial IoT deployments. However, a recent report by research firm Lux Research said that GE has misrepresented how developed the Predix platform is, claiming that Predix is still at least three years away from full development.GE has partnered with PTC to leverage its ThingWorx industrial IoT platform to fill in the parts of Predix that havent been fully developed yet, according to the report. Thingworx provides tools that help enterprises quickly develop software applications for their connected IoT devices. Although GE said that Predix already has similar tools, Lux Research said that Predix relies completely on the ThingWorx partnership to deliver this capability.The report also said that Predix lags far behind in market penetration compared to other competing IoT software platforms like ThingWorx, Ciscos Jasper platform, and Aeris IoT platform.GE said that the report "included numerous factual errors," Fortune reported, and claimed that the report mischaracterized the relationship between GE and PTC.However, Predix has been on the market for less than a year, and Lux Research acknowledged that the platform has very high growth potential. GE is one of the largest manufacturing providers, and can leverage its deep industry knowledge to both market and improve Predix over time. Building a true end-to-end platform for industrial IoT applications is also very difficult, and it's common for IoT platform providers topartner up to deliver more software capabilities.Different IoT software platform providers usually offer different capabilities like connectivity, application development, analytics, or cloud services. By partnering up, platform providers can deliver more of these capabilities to their clients. Even if Predix may require more development,GE can still leverage its deep roots in the manufacturing world and its partnership with PTC to rapidly grow its software revenues over the next few years. To receive stories like this one directly to your inbox every morning, sign up for the IoT Briefing newsletter.Click here to learn more about how you can gain risk-free access today.Join the conversation about this story
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